Danish energy company Ørsted CEO Rasmus Errboe has indicated that the tariffs introduced by US President Donald Trump will affect the cost of the company’s wind projects in the country. In an interview with the Financial Times, as reported by Reuters, Errboe highlighted the challenges faced by Ørsted’s major US wind farms, Revolution Wind and Sunrise Wind, due to the new tariffs on aluminium and steel.
Ørsted, which focuses on developing renewable energy infrastructure, has 11GW of projects at various stages in the US. The company, which employs around 8,300 people and is listed on Nasdaq Copenhagen, reported revenues of DKK71bn (€9.5bn) in 2024.
The Revolution Wind project, with a capacity of 704MW, will deliver clean energy to Rhode Island and Connecticut, powering more than 350,000 homes upon completion next year. Likewise, the Sunrise Wind project, expected to be operational by 2027, will produce approximately 924MW of energy, sufficient for nearly 600,000 homes.
Ørsted has called for European governments to provide consistent annual support to the offshore wind industry to achieve targets and mitigate cost escalations, the report added. This plea comes amid the backdrop of slowed construction of offshore wind farms in the US, especially after President Trump’s decision to halt new offshore wind leasing upon his return to office in January.
Meanwhile, President Trump announced a temporary 90-day reprieve from the high tariffs imposed on several countries, although he maintained a higher tariff rate of 125% on China. A 10% duty on almost all imports to the US would continue.
Last month, Ørsted and Nuveen Infrastructure commenced commercial operation at the 253MW Gode Wind 3 Offshore Wind Farm in the German North Sea.
